Allspring Global Investments Holdings LLC Increases Holdings in Safety Insurance Group, Inc. (NASDAQ:SAFT)

Allspring Global Investments Holdings LLC raised its stake in shares of Safety Insurance Group, Inc. (NASDAQ:SAFT - Free Report) by 52.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,137 shares of the insurance provider's stock after buying an additional 6,223 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.12% of Safety Insurance Group worth $1,431,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SAFT. Diversified Trust Co bought a new stake in Safety Insurance Group in the 1st quarter worth approximately $430,000. Assenagon Asset Management S.A. bought a new stake in shares of Safety Insurance Group in the first quarter worth $927,000. GAMMA Investing LLC grew its holdings in shares of Safety Insurance Group by 67.9% in the first quarter. GAMMA Investing LLC now owns 811 shares of the insurance provider's stock worth $64,000 after acquiring an additional 328 shares during the period. Naples Global Advisors LLC grew its holdings in shares of Safety Insurance Group by 10.9% in the first quarter. Naples Global Advisors LLC now owns 19,273 shares of the insurance provider's stock worth $1,520,000 after acquiring an additional 1,900 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Safety Insurance Group by 169.9% in the first quarter. Parallel Advisors LLC now owns 448 shares of the insurance provider's stock worth $35,000 after acquiring an additional 282 shares during the period. Hedge funds and other institutional investors own 81.04% of the company's stock.

Safety Insurance Group Stock Performance

Shares of SAFT traded down $0.85 during trading hours on Wednesday, hitting $73.84. The stock had a trading volume of 170,493 shares, compared to its average volume of 59,008. The stock has a fifty day moving average price of $79.53 and a 200 day moving average price of $78.66. Safety Insurance Group, Inc. has a 12 month low of $70.71 and a 12 month high of $90.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $1.10 billion, a PE ratio of 15.10 and a beta of 0.26.

Safety Insurance Group (NASDAQ:SAFT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The insurance provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.03. Safety Insurance Group had a return on equity of 7.99% and a net margin of 6.29%. The business had revenue of $298.97 million during the quarter.

Safety Insurance Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.88%. The ex-dividend date was Monday, June 2nd. Safety Insurance Group's dividend payout ratio is presently 73.62%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Safety Insurance Group from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd.

About Safety Insurance Group

Safety Insurance Group, Inc provides private passenger and commercial automobile, and homeowner insurance in the United States. The company's private passenger automobile policies offer coverage for bodily injury and property damage to others, no-fault personal injury coverage for the insured/insured's car occupants, and physical damage coverage for an insured's own vehicle for collision or other perils.